Disney CEO Bob Iger to Sell Up to $41M in Stock

Disney CEO Bob Iger is planning to sell some of his shares in the company. 

According to a regulatory filing released Thursday, Iger could sell as many as 372,412 shares, which he had acquired as part of his vested stock options. With a share price of $110.33 (where the Disney stock opened Thursday), that would amount to up to about $41 million, if all shares are sold. 

Per the filing, Iger adopted a trading plan on Aug. 14 that allows for the potential exercise of his vested stock options, in the amount of 372,412 shares, which were granted to him on Dec. 18, 2014. The options expire Dec. 18, 2024 and Iger’s trading plan is scheduled to terminate by Dec. 17. 

The potential sale was announced under a Rule 10b5-1 plan in Disney’s filing for its fiscal year. The plan sets up pre-planned trades set up to avoid accusations of insider trading that go out automatically when certain stock conditions are met.

The potential sale comes after Iger and his wife, Willow Bay, agreed to acquire the Angel City Football Club in July. Bay and Iger were reported to acquire the controlling stake in Angel City Football Club at a value of $250 million and planned to invest an additional $50 million “to support the Club’s future growth.”

Iger has not yet made the sale, but Disney’s stock price was climbing, up 6 percent in midday trading Thursday, after the earnings beat by Disney reported Thursday morning. Typically, corporate executives like Iger have a limited window in which to sell stock without triggering insider trading concerns, and those windows are usually shortly after earnings are disclosed.